BAE Systems to sell German naval systems unit for $171M

LONDON (MarketWatch) -- BAE Systems
BA., +0.13%
on Friday agreed to sell its Atlas Elektronic unit to ThyssenKrupp
TKA, -0.98%
and EADS
AIR, -0.09%
for 145 million euros ($171 million) in cash. Pension liabilities of 72.4 million euros will remain with Atlas, a supplier of equipment to the German military that had 2004 sales of 292.4 million euros and an EBIT of 9.3 million euros. Shares of BAE Systems ended 1.6% lower in a holiday-shortened London market.

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